PennyMac Financial Services, Inc. (PFSI) Issues Earnings Results, Hits Estimates
PennyMac Financial Services, Inc. (NYSE:PFSI) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.71, Bloomberg Earnings reports. PennyMac Financial Services had a return on equity of 4.79% and a net margin of 6.87%. The business had revenue of $250.64 million during the quarter, compared to analyst estimates of $238.59 million. The business’s quarterly revenue was down 14.0% compared to the same quarter last year.
In related news, insider Stanford L. Kurland sold 11,700 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $19.00, for a total transaction of $222,300.00. Following the sale, the insider now directly owns 11,702 shares in the company, valued at approximately $222,338. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stanford L. Kurland sold 11,012 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $18.00, for a total value of $198,216.00. Following the sale, the insider now owns 23,402 shares in the company, valued at $421,236. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,424 shares of company stock worth $3,092,362. 45.64% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. BidaskClub upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine lowered PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. PennyMac Financial Services presently has an average rating of “Hold” and an average target price of $20.25.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.
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